Norway: Inflation hits over two-year high in February
Consumer prices increased 0.70% over the previous month in February, a smaller increase than January’s 1.06% rise. The softer rise was largely driven by a softer increase in prices for housing and utilities. In addition, price pressures for transportation also moderated, while prices for recreation and culture dropped.
Inflation increased to 3.3% in February, above January’s 2.5%. February’s reading represented the highest inflation rate since December 2018. Annual average inflation edged up to 1.5% in February (January: 1.3%). Core inflation was steady, coming in at January’s 2.7% in February.